Create tender or live auction events with full control over timings, minimum bid increments, overlapping events, terms and conditions, purchase limits, reserve price visibility, and result publication settings.
Select and enable specific participants per event, upload lot images and certificates, and even add additional lots or adjust event timings while the event is ongoing.
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The Online Diamond Bidding Process – Step by Step Guide
15 Sept 2025
1. Create & Configure Event
2. Upload Lots
Upload rough or polished diamond lots with structured attributes such as mine, lot number, size range, description, stone count, weight in carats, and reserve price per carat.
Attach high‑resolution images and videos, follow guided upload instructions, and download or update lot files as the event progresses.
3. Invite Bidders
Set up bidder and administrator profiles with document capture, and activate, deactivate, or blacklist accounts as needed.
Invite selected parties using reusable email templates and announcements. Bidders can accept invitations, book appointments, and access upcoming or archived events.
4. Bidding Starts
Bidders log in to place tender bids or participate in live auctions with configured increments and automatic last‑minute time extensions.
The auction room displays current and previous highest bidders, bid counts, and online participants, supports live chat, and allows admins to extend time, edit placed bids, or withdraw a highest bid where required.
5. Analyze Results
On close, results are auto‑analyzed with top bids, reserve comparisons, variance metrics, bidder and attendee counts, and per‑lot bid details, with support for paper bid entry and tie handling.
Admins can accept or deny bids, resolve equal bids, reallocate lots when overall purchase limits are exceeded, choose winners via configurable policies (e.g., highest above reserve, averages, mean/median/mode), and download Excel analytics.
6. Declare Results
Publish results online to bidders and trigger winner notifications via automated emails, or close events privately without publicizing.
Result publication settings control visibility, and winners are reflected within bidder dashboards for transparent post‑event communication.
7. Analytics & Reporting
Generate event summaries, bid results, winners, invoices, and consolidated cross‑event reports spanning lots, participants, bids, chats, and invoices.
Create customized reports with selected fields, save report templates, export to Excel, and track bidder performance and overall purchase limit metrics alongside broadcast announcements and reminders.
BidMyStones powers modern diamond tenders and auctions with secure, transparent, and industry‑ready workflows. Create and manage events for rough and polished diamonds with real‑time bidding, robust controls, and end‑to‑end compliance on a single platform.
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